The Euro is trading at 1.2435 at present.  The low has been 1.2384 while the high has been 1.2454.  The Euro has returned to a more dominant position versus the US dollar in the short term.  This is evident by the level it is trading at currently.  Economic data out of the region despite being less than expected has not prevented it from gaining versus the US Dollar.  German WPI disappointed while registering -0.7%.  European Industrial Production was 0.1% which was less than expected while European Employment Change met expectations registering 0.2%.  Despite these unimpressive numbers, the Euro is poised to push towards the upside as the US Dollar has faltered collectively across a variety of currency pairs.  Later this morning, PPI and Consumer Sentiment numbers will be released in the US.  This data will impact what level the US Dollar will be trading at as the week concludes.

The British Pound is trading at 1.5719 at the moment.  The low has been 1.5694 while the high has been 1.5736.  The range in Cable has been a bit tighter than other major currency pairs today yet Cable has been trading mixed throughout this range.  Earlier in the morning, UK Construction Output was released and registered a disappointing -2.2% which is well below expectations.  However, the UK CB Leading Index was the same as the previous release registering -0.3%.  This data has not caused the Pound to soften much once the data was released.  There seems to be good support above 1.5675 keeping the Pound buoyant.  We will be looking to see what type of impact the soon to be released US data has on the Pound and indeed the overall currency market.

The Japanese Yen is trading at 118.45 currently.  The USD/JPY low has been 118.04 while the high has been 119.21.  Like the other major currency pairs, USD/JPY has seen the USD soften in trading today.  This was encouraged with the release of Japanese Revised Industrial Production which registered a better than expected 0.4%.  This data has only enhanced a softening US Dollar today.  It remains to be seen what degree of impact the US economic data that is to be released later will have on the Dollar later.  If the data is positive for the US then the Dollar may halt the slide it has shown over the course of trading today.  We will be watching to see if that is indeed the case

AUD/USD is trading at 0.8275 with the low being 0.8240 while the high has been 0.8299.

USD/CAD is trading at 1.1562 with the low being 1.1518 while the high has been 1.1591.


This information has been prepared to provide you with general information only. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information.